Peiming Zheng - Feb 3, 2025 Form 4 Insider Report for Otis Worldwide Corp (OTIS)

Role
EVP, Chief Product, Delivery
Signature
Toby Smith, Attorney-in-Fact
Stock symbol
OTIS
Transactions as of
Feb 3, 2025
Transactions value $
-$354,747
Form type
4
Date filed
2/5/2025, 08:31 PM
Previous filing
Feb 4, 2025
Next filing
Feb 10, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OTIS Common Stock Options Exercise +1.28K +757.4% 1.45K Feb 3, 2025 Direct F1
transaction OTIS Common Stock Tax liability -$53.3K -564 -38.92% $94.55 885 Feb 3, 2025 Direct
transaction OTIS Common Stock Award +6.88K +777.85% 7.77K Feb 4, 2025 Direct F4
transaction OTIS Common Stock Tax liability -$301K -3.19K -41.09% $94.43 4.58K Feb 4, 2025 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OTIS Restricted Stock Units Options Exercise $0 -1.28K -100% $0.00 0 Feb 3, 2025 Common Stock 1.28K Direct F1, F2
transaction OTIS Restricted Stock Units Award $0 +9.59K $0.00 9.59K Feb 4, 2025 Common Stock 9.59K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units (RSUs) convert into common stock on a one-for-one basis. RSUs include the right to receive dividend equivalents that are credited as additional RSUs.
F2 On February 3, 2022, the reporting person was granted RSUs vesting in three substantially equal annual installments beginning on the first anniversary of the grant date. The last installment vested on the Transaction Date.
F3 RSUs vest in three substantially equal annual installments beginning on the first anniversary of the Transaction Date.
F4 The acquisition of Otis common stock represents the vesting of performance share units (PSUs) previously awarded on February 3, 2022. Each PSU has a value equal to one share of Otis common stock. These PSUs vested on the Transaction Date upon the achievement of the 3-year cycle preestablished performance targets. The performance criteria were certified to be achieved at the 82% level.